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Forex Trading Malaysia

All the brokers we work with are well-regulated, have excellent customer support and most of them have Islamic, swap-free accounts. Compare Forex brokers side-by-side until you find the perfect one for you.

Traders who understand the Forex market are more profitable, so read our education section for guides on every aspect of trading.

All the brokers we work with are well-regulated, have excellent customer support and most of them have Islamic, swap-free accounts. Compare Forex brokers side-by-side until you find the perfect one for you.

Traders who understand the Forex market are more profitable, so read our education section for guides on every aspect of trading.

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Cost of Trading

Total trading cost at the time of last update, for 1 lot of EUR/USD using the account with the lowest minimum deposit. Includes spread and commission.

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How Do I Trade Forex In Malaysia?

There are several things to consider before you start trading Forex in Malaysia:

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  1. Have you picked a good, well-regulated broker?
  2. Do you understand the market well enough to trade Forex successfully?
  3. Do you have a strong trading plan?
  4. Do you have the discipline to carry out your trading plan

At Forex Malaysia, we will help you answer all these questions. Below is a brief overview of how we can assist.

How do I pick a good broker?

To pick a good broker in Malaysia we need to look at a few factors:

  • Regulation: It’s absolutely critical to always trade with a well-regulated broker. Malaysian’s can trade with any internationally regulated broker, but for added security, you may want to trade with a broker who holds a license from the Securities Commission of Malaysia (SCM) or the Labuan Financial Services Authority (LFSA). Apart from the SCM and LFSA, the three best regulatory agencies are the FCA, CySEC and ASIC. Be wary of brokers who are only regulated by small island states (the Cayman Islands, Bahamas, Seychelles, etc) or those who aren’t regulated at all.
  • Islamic Account: All SCM/LFSA regulated brokers and most international brokers in the Malaysian market offer an Islamic (swap-free) account, but it is important to check first before you sign up.
  • Broker Type: Do you want a market-maker broker or an ECN broker? Market maker brokers tend to have wider spreads but don’t charge a commission on trades, while ECN brokers have tighter spreads but will charge a commission on every trade. Some brokers will provide both services on different account types, with the ECN services generally reserved for accounts with higher minimum deposits.
  • Trading Conditions: Make sure you understand exactly what spreads your broker offers, how much leverage they will give you and how many currency pairs they offer for trading. You don’t want to sign up a to a broker only to discover that the spread on your favourite currency pair is much wider than its competitors.
  • Trading Platform: Many brokers offer their own trading platforms these days, but MetaTrader 4 is still the industry standard and can move with you if you decide to change broker. Other good standalone platforms are MetaTrader 5 (which is slowly gaining in popularity) and cTrader.
  • Minimum Deposit: This is about how much you can afford to deposit with your broker. Generally, accounts with higher minimum deposits have better trading conditions but it is worth shopping around to find a good balance.
  • Deposit and Withdrawal Methods: All brokers will accept bank transfers and credit or debit cards. Most will also accept online payment systems such as Skrill or Neteller and some will also accept cryptocurrency.

The Malaysian government, through the Securities Commission, has done a lot to safeguard the interference of the Ringgit (MYR), while at the same time ensuring that the safety of their citizens who wish to participate in Forex trading is not compromised. В Trading Forex is legal in Malaysia as long as you abide by the set laws and regulations that are put in place by the government and the other regulating bodies. В In short, if a major regulator regulates your broker, you will be fine using this broker.

Forex Trading in Malaysia

The short answer to this question is yes, but only with a registered and approved financial institution. The official ruling is that you are only allowed to trade currency legally in Malaysia with licensed institutions, of which there are several. There are some that say that this rule only applies to physical currency and retail Forex Trading, especially online, does not fall into that category because online, you trade theoretical currency. That is why this is considered a tricky question requiring explanation and not just a simple yes or no. The easiest way to trade Forex in Malaysia legally is to use one of the approved institutions, and maintain an Islamic account.

Investing overseas is legal in Malaysia and there are many opinions that say that retail forex trading with an offshore brokerage can be easily considered foreign investment. The main issues that the nation has with Forex is that they are a developing country that wants to control the value of their currency to some degree. Since most Forex trading even in Malaysia does not involve their own currency, they tend to overlook the many ways that Forex can be traded using other currencies.

The idea here is that the laws are written in favor of the government being able to act if they see fit. Meaning, that it is extremely unlikely that you will be arrested in Malaysia for trading forex because there are ways to do it legally but the government reserves the right to have some control over what is happening. The law does strictly prohibit Forex trading with the funds of others and soliciting funds to trade. This is pretty clear and will get anyone who transgresses these regulations into a heap of trouble.

There are many laws on the books that people do not comply with and they are not even aware of the law in the first place. This means that most of the time, you can go on your merry way and not have any problems with the law, but the minute you do something that crosses the authorities or brings your offenses to the attention of the authorities, you can be penalized for everything that you are doing wrong, even the ones you didn’t know about. Forex trading in Malaysia is a pretty good example. It is likely that if you are trading your own funds, not bothering anyone and not being very public about it, nothing will happen to you at all. If you do something that angers the authorities, they can then come after you for every little law that you are breaking including this one.

Since the law is very grey here, there is a risk of getting into trouble with the government, if you are trading with a brokerage that is not on the list of licensed institutions and then risking everything you do being examined closely as well. That being said, most people who are trading from Malaysia with their own funds and an overseas broker will never have a problem.

Forex Trading in Malaysia FAQ

Is Forex legal in Malaysia?

Forex trading is legal in Malaysia if you use an institution regulated and approved by Bank Negara Malaysia. Using an offshore brokerage to trade Forex may be legal as foreign investment.

What time does Forex Market Open in Malaysia?

The retail Forex market is opened by most Forex brokers each Monday at 5am Malaysian time. It remains open until 4am Saturday morning Malaysian time.

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